E-TEK Dynamics to Acquire ElectroPhotonics

SAN JOSE, Calif., June 1 -- E-TEK Dynamics, Inc. has agreed to acquire privately-held ElectroPhotonics Corp. (EPC) of Toronto, Canada. EPC is an independent developer of dense wavelength division multiplexing (DWDM) components, dispersion compensation modules, network performance monitoring subsystems, and other components and modules for optical networks.
Under the terms of the agreement, shares of E-TEK common stock and cash with a combined value of approximately $40 million will be exchanged for all outstanding shares of EPC. The acquisition is conditional pending approval by EPC shareholders.